The International Energy Agency, IEA, has observed that world oil markets are re-balancing as the Organisation of the Petroleum Exporting Countries, OPEC and its allies continue implementation of production cuts, OPEC had hoped to achieve market rebalance with the production cut which came into effect earlier, in January this year. But the IEA cut estimates for the amount of crude needed from OPEC this year and in 2018 after lowering its historical assessments of consumption in some emerging nations. The agency lowered projections for the amount of crude required from OPEC this year and next by about 400,000 barrels a day.…
Author: Orientalnews Staff
The Comptroller Sarkin Kebbi, led Western Marine Command, of the Nigeria Customs Service(NCS), marine Anti-Smuggling Unit renewed efforts on the seizures of prohibited items within the Nigerian waterways, Creeks and Land Borders has become the biggest trouble for Smugglers. His commitment to get rid of illegal activities has led to discovery of smugglers hideouts in one of its Anti-Smuggling operations. The Command which have been recording huge success’s in her seizures, even though it is regarded as small in size, is highly equipped with high level standard gunboats, handed over to her by the Federal Government in other to bring…
Three U.S. pension funds sued six of the world’s largest banks on Thursday, including Goldman Sachs Group Inc and JP Morgan Chase & Co, accusing them of conspiring to stifle competition in the more than $1 trillion stock lending market. In the lawsuit filed in a Manhattan federal court, the funds accused the banks of boycotting start-up lending platforms by threatening and intimidating their potential clients. The defendants include Bank of America Corp, Credit Suisse AG CSAG.UL, Morgan Stanley, UBS AG, Goldman and JP Morgan. The Iowa Public Employees’ Retirement System, Orange County Employees’ Retirement System and Sonoma County Employees’ Retirement Association said…
The Managing Director of Med-View Airline, Alhaji Muneer Bankole, says pilgrims deserve better welfare support and has therefore urged the Federal Government to ensure that Nigerians who are participating in this year’s Hajj in Saudi Arabia are not abandoned. He asked the Federal Government to begin to show concern on the Hajj matters to ensure the safety and welfare of its citizens. Bankole, who spoke with journalists on this year’s Hajj operation, said the airline had deployed three aircraft for the airlift of about 20,000 pilgrims from across the country. According to him, beyond spiritual engagement, it behoves the Federal…
..NAIC Now To Provide Insurance Cover For Projects The Central Bank of Nigeria (CBN), has taken fresh measures to further promote business of agriculture in the country. To actualise this the Apex bank has come up with the amendment of the guidelines for Commercial Agriculture Credit Scheme (CACS). Under the reviewed guidelines which affect sections 16 and 17 of the document, the Nigerian Agricultural Insurance Corporation (NAIC) shall henceforth provide insurance cover for all the Agricultural projects in the event of losses arising from the various hazards insured in the value chain. The NAIC according to CBN, shall also ensure…
The managing director of Federal Airports Authority of Nigeria, FAAN who is also the president of Airport Council International, ACI, Saleh Dunoma has expressed the conviction that certification of Nigeria’s aerodromes would reduce insurance premium for the airline operators. Insurance premium for operators in Nigeria ranks amongst the highest in the world. Aside insurance premium that are most likely to be reduced, the ACI boss said it would give the international aviation community the confidence to operate to the airport. The certification of the airport is based on safety and it is required by the International Civil Aviation Organisation (ICAO)…
AMEC’s Measurement Month is a global programme of activities to spotlight attention on the importance of PR measurement. It’s a simple idea which benefits members, clients and the industry by putting measurement on a world stage. And any AMEC member, irrespective of size, can take part! P+ Measurement Services, the first independent PR Measurement Agency in Nigeria and also the only indigenous member of the International Association for the Measurement & Evaluation of Communication (AMEC) in Nigeria, will be hosting the AMEC Measurement Month in Nigeria for its first time, since the birth of the leading agency. The event will…
The Federal Airports of Nigeria, FAAN, has carried out a simulation exercise at the airside of the Nnamdi Azikiwe International Airport (NAIA), Abuja, to demonstrate its preparedness to manage aircraft emergencies of any kind should the need arise. Present at the event was the Representative of the Managing Director (Director of Airport Operations, FAAN, Capt. Rabiu Yadudu), who noted that this exercise was meant to confirm that FAAN has the right equipment, manpower and strategy to perform its statutory duties. He emphasized that this exercise was also necessary in ensuring the certification of the airport. Also in attendance was Deputy General…
First Bank of Nigeria Limited has promoted over 3000 of its workforce in its recent promotion exercise targeted at rewarding staff for strong performance in driving the Bank’s business. The Bank in recognition of the hard work and contributions of staff rolled out unprecedented promotions across board, moving up over 3000 staff members in spite of the difficult economic down turn and challenging operating environment. In the bid to constantly improve employee welfare, career development and progress, FirstBank continuously develops its staff and invests in its talent pool. This year’s promotions was targeted more towards lower and middle management cadres…
There are clear indications that operators in various sectors of the economy where the Central Bank of Nigeria, CBN, has provided support through development interventions are making spirited efforts to make repayments. The CBN, Intervention in the power and aviation sectors have reportedly reached N277.4 billion cumulatively between September 2016 till June 2017, with repayments by the operators trailing progressively. The programme, under CBN’s Power and Airline Intervention Fund (PAIF) has supported 59 projects in both sectors in efforts to keep them afloat amid harsh economic situation and threats to job. Correspondingly, about N106.13 billion has so far been repaid cumulatively,…
